Current:Home > StocksNew Jersey, home to many oil and gas producers, eyes fees to fight climate change -Visionary Growth Labs
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
View
Date:2025-04-14 11:49:00
TRENTON, N.J. (AP) — It’s not an accident that “The Sopranos,” the quintessential show about New Jersey, opens with its main character driving past gasoline and oil storage tanks along the New Jersey Turnpike.
From the outskirts of New York to the Delaware River shoreline across from Philadelphia, New Jersey is home to numerous oil and natural gas facilities.
Those facilities would be charged fees to help the state fight the effects of climate change under a bill being considered in the state Legislature.
The measure, to be discussed Thursday in a state Senate committee, aims to create a Climate Superfund similar to the pot of money assembled by the federal government to clean up toxic waste by charging petroleum and chemical companies an extra tax to fund ongoing cleanups.
It’s a tactic being used or considered in numerous other states, including Vermont, which recently enacted such a law. New York, Maryland, Massachusetts and California are among states considering doing likewise.
“It’s more important than ever that Gov. Murphy and state legislators protect New Jersey taxpayers and the health of our communities by making polluters pay to repair, upgrade and harden our critical infrastructure from climate-driven damage,” said Matt Smith, New Jersey Director of the nonprofit Food & Water Watch.
New Jersey’s business lobby is already working against the bill. Ray Cantor, an official with the New Jersey Business and Industry Association, said the bill will accomplish nothing beyond raising the cost of gasoline for motorists, and gas and oil for home heating customers.
“There are many things wrong with the bill, beyond the fact that it seeks to impose a retroactive liability on companies that were providing a legal, necessary and vital product to the citizens of the state,” he said. “It’s unconstitutionally vague in assessments of costs, and will likely be preempted by federal law. It will do nothing to reduce greenhouse gas emissions or impact climate change.”
His criticism echoed that voiced by the oil and gas industries when Vermont’s bill became law in May.
The New Jersey bill “would establish that certain fossil fuel companies are liable for certain damages caused to the state and its residents by the harmful effects of climate change.”
The burning of fossil fuels including oil, gas and coal is a major contributor to climate change.
The proposal would impose as yet unspecified charges on fossil fuel producers that would go to the state Department of Environmental Protection, which would distribute the money as grants to pay for programs to adapt to climate change and make the state more resilient to severe weather.
The state would take two years to assess damages to New Jersey that have resulted from greenhouse gas emissions from the burning of fossil fuels since 1995, and would establish “that each responsible party is strictly liable” for those damages.
___
Follow Wayne Parry on X at www.twitter.com/WayneParryAC
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
veryGood! (377)
Related
- The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds
- Ohio law banning nearly all abortions now invalid after referendum, attorney general says
- Vanderpump Rules’ Rachel “Raquel” Leviss Is One Year Sober Amid Mental Health Journey
- From homeless to Final Four history, Fisk forward being honored for his courage
- Could your smelly farts help science?
- Ringleader of Romanian ATM 'skimming' operation gets 6 years for scamming low-income victims
- American Idol Sneak Peek: See Katy Perry's Jaw-Dropping Reaction to Contestant's Adele Cover
- A 12-year-old student opens fire at a school in Finland, killing 1 and wounding 2 others
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- International flights traveling to Newark forced to make emergency diversions after high winds
Ranking
- Military service academies see drop in reported sexual assaults after alarming surge
- Jennifer Garner Mourns Death of Kind and Brilliant Dad William Garner
- Nicholas Hoult and Son Joaquin Make Their First Public Appearance Together
- Powerball jackpot nears $1 billion as drawing for giant prize nears
- Tom Holland's New Venture Revealed
- Amid Haiti’s spiraling violence, Florida residents worry about family, friends in the island nation
- Ariana Madix's Brother Jeremy Reveals Why They Haven't Talked in Months Amid Rift
- I Shop Every Single SKIMS Drop, Here Are the Styles I Think Will Sell Out This Month
Recommendation
Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
Jersey Shore’s Sammi “Sweetheart” Giancola Engaged to Justin May
Migrants flown to Martha’s Vineyard by Florida Gov. Ron DeSantis can sue charter flight company
Tesla sales fall nearly 9% to start the year as competition heats up and demand for EVs slows
'Most Whopper
'Home Improvement' star Patricia Richardson says doing a reboot 'would be very weird'
Jennie Garth reunites with 'Beverly Hills, 90210' co-star Ian Ziering for Easter charity event
An alternate channel is being prepared for essential vessels at Baltimore bridge collapse site